Aurora Innovation, Inc. (NASDAQ:AUR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Aurora Innovation a “Moderate Buy” consensus: Eight of 12 analysts rate the stock a buy, while two rate it a hold and two a sell. The average 12-month price target is $12.67, compared with a recent price of $6.31.
• Recent financial results remained weak despite revenue growth: Aurora reported quarterly revenue of $2.0 million, up 100% year over year and above expectations, but posted an adjusted loss of $0.14 per share versus the $0.12 consensus estimate.
• Insider selling has been substantial: Insiders sold 6.39 million shares worth approximately $44.8 million over the past three months, including a director’s sale of 2.84 million shares for nearly $19.9 million.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) has received an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.6667.

AUR has been the subject of several analyst reports. Craig Hallum started coverage on Aurora Innovation in a report on Friday, June 5th. They set a "buy" rating and a $18.00 price objective for the company. Morgan Stanley boosted their price target on Aurora Innovation from $14.00 to $18.00 and gave the stock an "overweight" rating in a research note on Friday, September 11th. Evercore restated an "outperform" rating on shares of Aurora Innovation in a report on Tuesday, September 15th. Wall Street Zen lowered shares of Aurora Innovation from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Finally, Northland Securities initiated coverage on shares of Aurora Innovation in a research report on Friday, May 29th. They set an "outperform" rating and a $11.00 target price on the stock.

Insider Activity at Aurora Innovation

In other news, Director Michelangelo Volpi sold 2,842,682 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $7.00, for a total transaction of $19,898,774.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 6,390,753 shares of company stock worth $44,826,378 in the last three months. Insiders own 8.52% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Eurizon Capital SGR S.p.A. purchased a new stake in Aurora Innovation in the fourth quarter valued at approximately $39,000. Simplify Asset Management Inc. purchased a new position in Aurora Innovation during the 4th quarter worth approximately $42,000. Triad Wealth Partners LLC purchased a new position in Aurora Innovation during the 1st quarter worth approximately $43,000. Capula Management Ltd acquired a new stake in Aurora Innovation during the 1st quarter valued at approximately $43,000. Finally, Navigation Group LLC purchased a new stake in shares of Aurora Innovation in the 1st quarter valued at $48,000. 44.71% of the stock is owned by institutional investors and hedge funds.

Aurora Innovation Stock Performance

NASDAQ:AUR opened at $6.31 on Monday. The company's 50-day simple moving average is $6.31 and its 200-day simple moving average is $5.93. Aurora Innovation has a fifty-two week low of $3.60 and a fifty-two week high of $8.56. The stock has a market capitalization of $12.65 billion, a P/E ratio of -13.43 and a beta of 2.63.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). Aurora Innovation had a negative net margin of 18,000.00% and a negative return on equity of 43.94%. The firm had revenue of $2.00 million for the quarter, compared to analysts' expectations of $1.66 million. During the same period in the previous year, the company earned ($0.11) EPS. The company's revenue was up 100.0% on a year-over-year basis. On average, research analysts forecast that Aurora Innovation will post -0.48 EPS for the current year.

About Aurora Innovation

Aurora Innovation, Inc develops autonomous vehicle technology designed to transport people and goods without human drivers. Its core product, the Aurora Driver, combines artificial intelligence, sensors, mapping, and other software and hardware systems to enable automated driving across trucking, ride-hailing, and logistics applications.

The company is initially focused on autonomous trucking, where its technology is intended to support long-haul freight operations and improve safety, efficiency, and vehicle utilization.

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